Funding round
Apeel Sciences Series E
Apeel Sciences, which works in edible produce preservation coating manufacturing in Goleta, raised $250M in a Series E round announced on 18 Aug 2021, led by Temasek, at a $2.00B post-money valuation. 15 firms took part, 1 of them already investors. It is Apeel Sciences' seventh venture round on record; the one before was a Growth in Oct 2020.
$250M
Amount raised
$2.00B
Post-money valuation
$1.75B pre-money
15
Investors
1 lead
2.0x
Step-up from the Growth
$1.00B in May 2020
13%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Apeel Sciences at $2.00B after the new money, 2.0 times the $1.00B of its Growth (May 2020). The $250M bought investors about 13% of the company. It came 10 months after Apeel Sciences' Growth. It is 39% of the $640M Apeel Sciences has raised in the venture rounds on record. No later venture round is on record for Apeel Sciences.
Apeel Sciences' funding rounds
Apeel Sciences has 7 venture rounds on record. This one is highlighted.
- Seed 31 Dec 2013 $1.3M
- Series A 1 Jul 2015 $5.8M$18M post-money
- Series B 14 Dec 2016, led by Andreessen Horowitz and DBL Partners $33M
- Growth 1 Aug 2018, led by Viking Global $70M
- Growth 26 May 2020, led by GIC $250M$1.00B post-money
- Growth 27 Oct 2020 $30M
- Series E this round 18 Aug 2021, led by Temasek $250M$2.00B post-money
Investors
Who put money in
Temasek led the round with 14 other firms. Temasek had backed Apeel Sciences before.
Lead investor
- Temasek backs 195 venture-backed companies existing investor
Also in the round
- Andreessen Horowitz backs 722 venture-backed companies new investor
- Mirae Asset Global Investments new investor
- GIC backs 98 venture-backed companies new investor
- backs 54 venture-backed companies new investor
- backs 15 venture-backed companies new investor
- Tenere Capital new investor
- backs 4 venture-backed companies new investor
- Tao Capital Partners new investor
- backs 26 venture-backed companies new investor
- backs 4 venture-backed companies new investor
- Bill & Melinda Gates Foundation new investor
- 23andMe new investor
- YouTube new investor
- Creative Artists Agency new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, sales and marketing, scaling operations, acquisitions and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Acquisitions
- Working capital
Comparable rounds
How it compares
The closest in time: 1 in Food Production, then Series E rounds in any sector within 6 months:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Food Production | 31 Mar 2022 | $85M | not disclosed | Oman Investment Authority |
| Emeritus Professional & Management Training | 12 Aug 2021 | $650M | $3.20B | Accel and SoftBank Vision Fund |
| Emeritus Professional & Management Training | 11 Aug 2021 | $650M | $3.20B | SoftBank Vision Fund and Accel |
| Nuvemshop Decorators & Interior Designers | 17 Aug 2021 | $500M | $3.10B | Insight Partners and Tiger Global |
| Tiendanube Tech Companies | 17 Aug 2021 | $500M | $3.10B | Insight Partners and Tiger Global Management |
| Dataiku Tech Companies | 5 Aug 2021 | $400M | $4.60B | Tiger Global |
| BharatPe Payment Processing & Point of Sale | 4 Aug 2021 | $370M | $2.85B | Tiger Global |
| NewLink Renewable energy companies | 19 Aug 2021 | $308M | not disclosed | not named |
Sources
Where this comes from
Reported by 8 sources.
Questions
Frequently asked
How much did Apeel Sciences raise in its Series E round?
Apeel Sciences raised $250M in its Series E round, announced in Aug 2021.
Who led Apeel Sciences' Series E round?
Temasek led it, with Andreessen Horowitz, Mirae Asset Global Investments, GIC, Viking Global and Disruptive and 9 more.
What was Apeel Sciences' valuation at the Series E round?
$2.00B post-money ($1.75B pre-money).